Bharat Dynamics Ltd.’s initial public offering as the government looks to part-sell its stake in the missile maker to raise up to Rs 960 crore.
The government will sell 2.24 crore shares, or 12.25 percent stake, at Rs 413-428 apiece in the three-day offer.
1. You need to have DEMAT Account and Trading Account with Depository and stockbroker to apply for an IPO
2. Login to your Internet Banking and Add click on Investment Option Tab
3. Find ASBA Option, Some banks directly show ASBA option
What is ASBA:
ASBA means application supported by blocked amount, in this case when you apply for an IPO the amount lying in Bank Account for the amount IPO will be Blocked until the allotment Date, Once you get the confirmation on allotment of IPO than the said amount will be deducted from your bank account and if you did not get the allotment than the blocked amount will be released.
4. Add your DP Id along with PAN and Other Details: you will find your DP id with your broker if you don’t have, Contact your broker.
5.Click on Ongoing Issues or Manage applications
6. Click on the current issue Tab and fill the Bid Details as given in the picture:
7. Select Investor category, Bid amount and DP account and Bank Account and fill bid quantity and bid price.
8. Click on the compute button and then authenticate the transaction with Password and OTP and Submit the Application.
If you need any help, Please do comment in the comment box
